This unique program allows buyers to pay their home off faster, build wealth quicker and pay less interest over time.
WHAT IS THE MORTGAGE ACCELERATOR?
Traditional mortgages generally feature a fixed interest rate over a 30-year term. With INHP’s Mortgage Accelerator, you can pay off your home in as few as 20 years if you qualify and purchase your home using an INHP home loan.
Check out the example below of a home with a purchase price of $150,000 and see how the mortgage accelerator could help you save money and pay off your home faster.
WHO CAN PARTICIPATE?
You may be eligible if you are a Marion County resident earning up to 120% of HUD's Area Median Income (AMI). Income, geographic and other eligibility restrictions apply.
- A household earning up to 80% AMI may qualify to use the program anywhere in Marion County.
- A household earning up to 120% AMI may qualify to use the program in any low-to-moderate income census tract in Marion County.
Rates and terms are subject to change without notice.
Talk to an INHP mortgage loan originator to see if you qualify. Some examples may include:
- For a household of three earning a combined income of $59,050, the Mortgage Accelerator may be used anywhere in Marion County.
- For a household of two earning a combined income of $78,720, the Mortgage Accelerator may be used in any low-to-moderate income (LMI) census tract in Marion County. This also applies to a household of four earning $98,400.